Lets the district borrow temporarily between its own funds in 2021-22 to cover cash-flow needs

The Board adopts a resolution allowing the district to borrow between its own funds during fiscal year 2021-22 when needed for cash-flow purposes. It also authorizes repaying the borrowed funds, as Education Code Section 42603 allows. No amount is stated.

Plain-English summary written by AI from the official text. AI summary · amounts checked against official text

Action: Resolution or policy
Category: Budget, finance & payments
Term: Jul 1, 2021 – Jun 30, 2022
Presented by: Chief Financial Officer
File: 21-1682 · agenda V.-3
Outcome: Adopted on the General Consent Report, Aug 11, 2021

Official text

Approval by the Board of Education of Resolution No. 2021-0256 - Temporary Borrowing Between [District] Funds for Fiscal Year 2021-2022 as needed, for cash-flow purposes, and authorizing the repayment of temporary borrowed funds, pursuant to Education Code Section 42603.

History

Aug 11, 2021 Adopted on the General Consent Report

This is an independent project created to provide transparency to the OUSD Community, and is not affiliated with Oakland Unified District. All data used to create the Consent Report Tracker is made public by Legistar, OUSD's official platform for posting legislative records. Plain-English summaries are written by AI with narrow parameters based upon the official text of the reports. Read about how all this works.